Tempus AI (NASDAQ:TEM) Trading 13.9% Higher - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares shot up 13.9% on Monday . The stock traded as high as $63.28 and last traded at $62.86. 14,146,485 shares changed hands during trading, an increase of 111% from the average session volume of 6,715,705 shares. The stock had previously closed at $55.18.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TEM. Needham & Company LLC restated a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a research report on Wednesday, May 7th. Bank of America increased their target price on shares of Tempus AI from $48.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Piper Sandler boosted their price target on shares of Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. William Blair reiterated a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Finally, BTIG Research began coverage on Tempus AI in a research note on Monday, April 21st. They set a "buy" rating and a $60.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.42.

Tempus AI Stock Performance

The company has a 50 day simple moving average of $52.48 and a 200-day simple moving average of $51.90. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The stock has a market cap of $10.73 billion and a P/E ratio of -7.94.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to the consensus estimate of $248.13 million. The business's revenue for the quarter was up 75.4% on a year-over-year basis. On average, equities analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Activity

In other Tempus AI news, Director Wayne A.I. Frederick sold 3,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the sale, the director now owns 26,514 shares of the company's stock, valued at $1,207,447.56. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David R. Epstein sold 990 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $46.83, for a total transaction of $46,361.70. Following the completion of the sale, the director now directly owns 26,284 shares in the company, valued at approximately $1,230,879.72. This trade represents a 3.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 702,233 shares of company stock valued at $36,578,342. Corporate insiders own 27.60% of the company's stock.

Institutional Trading of Tempus AI

Several large investors have recently modified their holdings of the business. ARK Investment Management LLC increased its position in Tempus AI by 35.9% during the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock valued at $361,867,000 after purchasing an additional 1,981,755 shares during the period. Vanguard Group Inc. increased its position in shares of Tempus AI by 6,247.5% during the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock valued at $289,204,000 after buying an additional 5,900,668 shares during the period. Nikko Asset Management Americas Inc. raised its stake in Tempus AI by 31.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after buying an additional 1,021,460 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Tempus AI by 31.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after buying an additional 1,016,384 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after buying an additional 1,950,862 shares during the period. 24.22% of the stock is owned by institutional investors.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.